Teacher Retirement System of Texas grew its stake in Discovery Communications, Inc. (NASDAQ:DISCA) by 1,027.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,219 shares of the company’s stock after purchasing an additional 225,290 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Discovery Communications worth $5,263,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after purchasing an additional 3,230 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Discovery Communications during the 2nd quarter valued at about $133,000. Montag A & Associates Inc. purchased a new stake in shares of Discovery Communications during the 2nd quarter valued at about $209,000. OLD National Bancorp IN purchased a new stake in shares of Discovery Communications during the 3rd quarter valued at about $222,000. Finally, MUFG Americas Holdings Corp boosted its holdings in shares of Discovery Communications by 13.9% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock valued at $232,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 48.25% of the company’s stock.
Shares of Discovery Communications, Inc. (NASDAQ:DISCA) traded up $1.39 during trading on Monday, reaching $20.85. 14,287,659 shares of the company’s stock were exchanged, compared to its average volume of 3,854,783. Discovery Communications, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $30.25. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87. The company has a market capitalization of $7,376.39, a P/E ratio of 9.36, a PEG ratio of 1.08 and a beta of 1.55.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. Discovery Communications’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. equities research analysts predict that Discovery Communications, Inc. will post 1.97 EPS for the current year.
In other news, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average cost of $15.45 per share, for a total transaction of $231,750.00. Following the acquisition, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $772,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J David Wargo acquired 80,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $15.80 per share, with a total value of $1,264,000.00. Following the purchase, the director now directly owns 147,591 shares in the company, valued at approximately $2,331,937.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 195,000 shares of company stock valued at $3,071,750. Corporate insiders own 6.81% of the company’s stock.
DISCA has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $29.00 price target on shares of Discovery Communications in a report on Friday, October 20th. Credit Suisse Group raised shares of Discovery Communications from an “underperform” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.00 in a report on Thursday, September 14th. ValuEngine cut shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Discovery Communications in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Discovery Communications currently has a consensus rating of “Hold” and a consensus target price of $23.67.
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Discovery Communications Company Profile
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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